Bookbuilding IPO | ₹28 Cr | Listed at NSE SME | Fri, Sep 22, 2017 - Tue, Sep 26, 2017
Innovative Tyres IPO is a book build issue of ₹28.34 crores. The issue is entirely a fresh issue of 0.63 crore shares of ₹28.34 crore.
Innovative Tyres IPO bidding started from Sep 22, 2017 and ended on Sep 26, 2017. The shares got listed on NSE SME on Oct 5, 2017.
Innovative Tyres IPO price band is set at ₹45 per share. The lot size for an application is 3,000. The minimum amount of investment required by an retail is ₹1,35,000 (3000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (6,000 shares), amounting to ₹2,70,000.
The issue includes a reservation of up to 8,70,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Pantomath Capital Advisors Pvt.Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Goldmine Stocks Pvt.Ltd..
Refer to Innovative Tyres IPO RHP for detailed Information.
IPO Open
Fri, Sep 22, 2017
IPO Close
Tue, Sep 26, 2017
Issue Price
₹45 per share
Market Cap (Pre-IPO)
₹80.96 Cr
| IPO Date | 22 to 26 Sep, 2017 |
| Listed on | Thu, Oct 5, 2017 |
| Face Value | ₹10 per share |
| Price Band | ₹42 to ₹45 |
| Issue Price | ₹45 per share |
| Lot Size | 3,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 62,97,000 shares (agg. up to ₹28 Cr) |
| Reserved for Market Maker | 3,27,000 shares Goldmine Stocks Pvt.Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 59,70,000 shares (agg. up to ₹27 Cr) |
| Net Offered to Public | 59,70,000 shares (agg. up to ₹27 Cr) |
| Share Holding Pre Issue | 1,16,94,561 shares |
| Share Holding Post Issue | 1,79,91,561 shares |
| NSE Symbol | INNOVATIVE |
| ISIN | INE070Y01015 |
Innovative Tyres IPO comprises a total issue size of 62,97,000 shares. The net offer to the public is 51,00,000 shares, after excluding 3,27,000 shares allotted on a firm basis and 8,70,000 shares under a preferential allotment. Of the Net offer 25,50,000 (50.00%) allocated to NII 25,50,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 25,50,000 | 50.00% | 40.50% |
| Retail Shares Offered | 25,50,000 | 50.00% | 40.50% |
| Preferential Reservations | |||
| Employee Shares Offered | 8,70,000 | 13.82% | |
| Firm Reservations | |||
| Market Maker Shares Offered | 3,27,000 | 5.19% | |
| Total Shares Offered | 62,97,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 3,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3,000 | ₹1,35,000 |
| Retail (Max) | 1 | 3,000 | ₹1,35,000 |
| HNI (Min) | 2 | 6,000 | ₹2,70,000 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only NII | Above Rs 2 Lakhs | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 1995, Innovative tyres & tubes ltd manufactures and sells bias tires in India. The company offers tires for motorcycles, scooters, three-wheelers, passenger vehicles, light-trucks, trucks, buses, and special purpose vehicles as well as tubes. They sell their products under the brand "Innovative".
Innovative's product range covers all highway sizes, Off The Road (OTR) highway sizes, agriculture and industrial tyres. They serves original equipment manufacturers. The company also exports its products to the Philippines, the United Arab Emirates, Peru, Latin America, etc.
Company's plant is located at Halol, in Gujarat. ITTL has strong business relationship with tyre major Ceat Ltd. Company is manufacturing all segments of Nylon Tyres. Company is catering to domestic markets/after sales market, OEMs and is also exporting its products.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Expansion of existing facility | 17.00 |
| 2 | Long term working capital requirements | 4.00 |
| 3 | General Corporate Purpose | 4.84 |
The Innovative Tyres IPO is subscribed 8.03 times on September 26, 2017 5:00:00 PM (Day 3). The public issue subscribed 14.36 times in the retail category, [.] times in the QIB category, and 4.07 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 4.07 | 25,50,000 | 1,03,77,000 |
| Retail | 14.36 | 25,50,000 | 3,66,27,000 |
| Employee | 0.91 | 8,70,000 | 7,95,000 |
| Total | 8.03 | 59,70,000 | 4,79,34,000 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to Merchant Banker including expenses towards printing, advertising, and payment to other intermediaries such as Registrars, Bankers etc. | 2.20 |
| 2 | Regulatory fees | 0.06 |
| 3 | Marketing and Other Expenses | 0.24 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹45.00 |
| Open | ₹54.00 |
| Low | ₹46.20 |
| High | ₹54.00 |
| Last Trade | ₹47.15 |
Lead Manager Reports
Innovative Tyres IPO is a SME IPO of 62,97,000 equity shares of the face value of ₹10 aggregating up to ₹28 Crores. The issue is priced at ₹45 per share. The minimum order quantity is 3000.
The IPO opens on Fri, Sep 22, 2017, and closes on Tue, Sep 26, 2017.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Innovative Tyres IPO using UPI as a payment gateway. Zerodha customers can apply in Innovative Tyres IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Innovative Tyres IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Innovative Tyres IPO opens on Fri, Sep 22, 2017 and closes on Tue, Sep 26, 2017.
Innovative Tyres IPO lot size is 3000, and the minimum amount required for application is ₹1,35,000.
You can apply in Innovative Tyres IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Innovative Tyres IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Innovative Tyres IPO allotment status.
The Innovative Tyres IPO listing date is on Thu, Oct 5, 2017.
